Cencora, Inc. (COR) is a publicly traded company in the Healthcare — Medical - Distribution industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Cencora, Inc. functions as a global leader in the sourcing and distribution of pharmaceutical products, with operations spanning both the United States and international markets. Within its U.S. Healthcare Solutions segment, the company supplies a broad spectrum of pharmaceutical items, including generic and injectable medications, over-the-counter health products, and home healthcare equipment.
Is Cencora, Inc. stock overvalued or undervalued in 2026?
Cencora, Inc. (COR) trades at 24.6× earnings (P/E), below the median of the 246 healthcare companies over $2bn in Kaplio's universe. At the decade median (21.9×) $295 (-11 %); at its sector median (30.4×) $410 (+24 %).
Kaplio overview: Cencora, Inc.
Market cap $63B · 52 weeks $253 – $375 (11 % below the high) · P/E 24.6× · 2027 expected P/E 16.8× · Dividend 0.73 % · 11 years rising · Next earnings November 4, 2026 · expected EPS $4.58 · Closing price, Oct 30 · accounts published Aug 5.
- Valuation: P/E 24.6× (fairly priced).
- Business: ROIC 13 % (fair).
- Balance sheet: Net debt/EBITDA 1.7× (solid).
- Earnings: 7 of 8 (on track).
What would it be worth at its usual multiples?
At the decade median (21.9×) $295 (-11 %); at its sector median (30.4×) $410 (+24 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in pharma: 3 of 6 pass
- R&D / Revenue 0.0 %, fails.
- Gross margin 3.2 %, fails.
- P/E vs own 10y history 24.6×, fails.
- FCF / Net Income 206.4 %, passes.
- ROIC 12.7 %, passes, near the threshold.
- Net debt / EBITDA 1.7×, passes.
Against its peers (reference peers) — Cencora, Inc.: P/E 24.6×; EV/EBITDA 14.0×; ROIC 12.8 %; $63.1B. Cardinal Health, Inc. (P/E 34.6×; EV/EBITDA 18.1×; ROIC 13.2 %; $58.0B), McKesson Corporation (P/E 26.6×; EV/EBITDA 16.8×; ROIC 27.9 %; $116B), Henry Schein, Inc. (P/E 24.8×; EV/EBITDA 12.6×; ROIC 6.5 %; $9.5B).
Expensive or cheap against its last ten years?
P/E at each close: today 24.6× · median 21.9× · minimum 9.5× · maximum 48.5× · cheap below 18.9× · expensive above 27.2×. It has been cheaper than today 67% of the time over its last ten years.
Dividend
solid · Yield 0.73 % ($2.26 per share in 2025) · Years raising it ≥ 11 · 5-year growth +6 % a year · Free cash flow coverage 7.7× · With $1,000 invested today you'd collect $7.30 a year ($0.61 a month).
Kaplio's reading: Cencora, Inc.
Updated on October 26, 2026 · accounts published on August 5, 2026
A thin-margin distributor that earns high returns on its capital
Cencora trades at a P/E of 24.6 over the last 12 months, 19 % below its sector median of 30.4 but 12 % above its own ten-year median.
- Is Cencora expensive or cheap? Cencora trades 19 % below the sector median P/E, yet its P/E was lower than today's in 67 % of the last decade.
- How is the business doing? Revenue grew 9.3 % over the last 12 months, with an operating margin of 1.3 %, above its 1.1 % average for 2014-2025.
- Does Cencora invest enough in R&D and turn profit into cash? Free cash flow was 206 % of net income in fiscal 2025, though R&D was 0.0 % of revenue against a healthy mark of 15 %.
- How strong is the balance sheet? Net debt was 1.7× EBITDA in fiscal 2025, under the 2.5× healthy ceiling, and the dividend has risen 11 years running.
- What to expect from the next earnings? Analysts expect EPS of $4.58 at the November 4, 2026 report; Cencora beat estimates in 7 of the last 8 quarters.
Is Cencora expensive or cheap?
Over the last 12 months Cencora trades at a P/E of 24.6. That is 12 % above its ten-year median of 21.9 and 19 % below the 30.4 median of 220 healthcare companies. Over the decade its P/E ranged from 9.5 to 48.5, and the stock traded at a lower P/E than today 67 % of the time. Against its own history the multiple is in the upper half, while against its peers it is restrained. The free cash flow yield of 6.4 % is well above the 2.9 % earnings yield, so cash generation supports the price better than reported profit does. Over 12 months the share is up 1 %.
How is the business doing?
Cencora runs on very thin margins: an operating margin of 1.3 % and a net margin of 0.8 % over the last 12 months. That is still above the 1.1 % it averaged across fiscal 2014-2025, so margins are edging up. Over the last 12 months revenue rose 9.3 % and EPS 5.7 %, so profit per share grew more slowly than sales. Its strength is capital efficiency. ROIC of 12.7 % over the last 12 months is 6.9 points above the 5.9 % sector median, and it topped 10 % in 9 of the last 10 fiscal years. The 106.4 % ROE is inflated by a small equity base.
Does Cencora invest enough in R&D and turn profit into cash?
Healthcare investors watch R&D and cash conversion because the R&D pipeline is a company's hidden asset and expiring patents wipe out revenue. Cencora fails both drugmaker tests. In fiscal 2025 its R&D was 0.0 % of revenue, against a healthy level of 15 % or more, and its gross margin was 3.2 %, against 70 % for branded pharma. These figures show a business that does not rely on its own drug pipeline, so these two tests fit it poorly. The tests it passes tell more. Free cash flow was 206.4 % of net income in fiscal 2025, above the 90 % bar, and ROIC of 12.7 % narrowly clears the 12 % threshold.
How strong is the balance sheet?
Debt/equity of 3.84 over the last 12 months looks heavy, but the small equity base distorts it. Net debt of 1.7× EBITDA in fiscal 2025 is below the 2.5× level considered healthy in healthcare, and it equals 10.6 % of the current share price. A current ratio of 0.93 means short-term liabilities slightly exceed current assets. An Altman Z of 4.9 places Cencora in the safe zone, and its Piotroski score is 7 of 9. The dividend yields 0.7 % and has grown for 11 consecutive fiscal years. It took 28 % of fiscal 2025 profit, which leaves ample room.
What to expect from the next earnings?
Cencora reports on November 4, 2026, and the consensus expects EPS of $4.58 for the quarter. At the last report, on August 5, 2026, it delivered $4.48 against $4.35 expected, a 3.0 % beat, and it has topped EPS estimates in 7 of the last 8 quarters. Expectations for 2027 are stable. Among 6 analysts, the EPS consensus moved from $19.81 to $19.74 in 30 days, and revenue estimates barely changed. Of the 46 analysts who cover the company, 33 rate it a buy, 12 a hold and 1 a sell.
How this was prepared: the data comes from companies' official filings, collected by a professional provider, and from Kaplio's analysis engine (trailing-12-month ratios, 10 years of history and sector medians computed across US-listed companies). The text is written from that data alone, every figure is checked against it before publication, and it is reviewed when the company reports results. This is not investment advice.
Investor methods verdict
Would Buffett approve Cencora today?
The Buffett Method would not approve Cencora today: it fails its quality rules. Business quality: 70 out of 100 (price not included). Kaplio assessment with data from the week of 2026-10-26; not investment advice.
Profitability
| Return on Equity | 106.43% |
| Return on Invested Capital | 12.75% |
| Return on Assets | 3.13% |
| Gross Margin | 3.71% |
| Operating Margin | 1.30% |
| Net Margin | 0.79% |
Financial Health
| Debt / Equity | 3.84 |
| Current Ratio | 0.93 |
| Piotroski F-Score | 7 |
| Altman Z-Score | 4.87 |
Price Performance
| 1 month | +6.80% |
| 3 months | +6.26% |
| Year-to-date | -2.05% |
| 1 year | -2.06% |
| 3 years | +76.70% |
| 5 years | +169.39% |
| 10 years | +335.55% |
Dividend History
Paid in the last 12 months: $2.4000 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-08-14 | $0.6000 |
| 2026-05-15 | $0.6000 |
| 2026-02-13 | $0.6000 |
| 2025-11-14 | $0.6000 |
| 2025-08-15 | $0.5500 |
| 2025-05-16 | $0.5500 |
| 2025-02-14 | $0.5500 |
| 2024-11-15 | $0.5500 |
| 2024-08-09 | $0.5100 |
| 2024-05-09 | $0.5100 |
Amounts adjusted for stock splits.
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Explore sector: Healthcare · Medical - Distribution
More sections of COR: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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